The Los Angeles County Economic Development Corporation(LAEDC) introduced a new collection of economic indicators, which measure the economy of Los Angeles County. The Los Angeles County Business Scan is composed of 15 economic indicators, which will be updated when new data becomes available. It provides businesses and policy makers a collection of key county economic indicators with a short analysis as well as a chart of recent trends.
The most relevant of these indicators is a measure of construction employment. As of February 2007, the Los Angeles County construction employment showed an increase of .5 percent over the previous year, and since August 2005, construction employment in Los Angeles County has remained above 152,000 people.
Eleven other areas showed improvement, including the unemployment rate and median home prices, which exceeded $600,000 for the first time ever; however, three areas showed a decline, including single family and multifamily housing construction permits.
Many business scans like the Los Angeles County Business Scan are available for regions around the United States; however, to see the Los Angeles County Business Scan, visit www.laedc.org. EC